Since 1987, ISTC has presented Governors awards to organizations in Illinois that have demonstrated a commitment to environmental excellence through outstanding and innovative sustainability practices. Any Illinois public or private organization is eligible to apply for an award. Organizations who are winning for the first time received the Sustainability Award. Those organizations that have won in past years and are continuing their environmental efforts are awarded a Continuous Improvement Award.

“These businesses and organizations have shown that it is possible to create and maintain conditions under which people and the environment can exist in productive harmony, and fulfill the social and economic requirements of present and future generations,” said Manohar Kulkarni, ISTC Director.

Ambassador Steel, located at 1020 S. Main St., recently announced to its employees that it will close its Rochelle facility. According to a written statement, the decision is based upon a “strategic realignment based upon moving production capacity to best meet future goals and market needs.”

The company, which is based out of Auburn, Ind., and owned by Harris Steel, Inc., declined to comment on the closing, a timeline for when the doors will finally close and what will happen to the employees of the Rochelle factory. Harris Steel, in turn, is owned by Nucor Corp.

According to the release to employees, the company will be investing additional equipment at its Bourbonnais facility and a company official will be meeting with each Rochelle employee individually over the next two weeks to “present and discuss options available.” They reassured workers that the closing was not a reflection on the performance of Rochelle employees

Chicago — Exelon, Electric Transmission America (ETA) and American Electric Power (AEP) have signed a memorandum of understanding to develop an extra high-voltage transmission project that will become a significant backbone of the next generation transmission system in the Midwest. ETA is a joint venture between AEP and MidAmerican Energy Holdings Company.

The 420-mile line will strengthen the high-voltage transmission system connecting Illinois to Indiana and through to the border with Ohio, improving overall system reliability while also establishing the infrastructure needed to provide Midwest states access to more sources of renewable energy and meet their state-mandated renewable portfolio standards.

“Not only will this project strengthen the overall transmission system, it also will support the integration of new renewable energy sources and provide a roadmap to help reliably manage the expected retirements of some fossil fuel units, while enhancing broad regional cooperation and planning. This is another way Exelon is helping to drive the nation’s transition to a clean energy future,” said Chris Crane, president and COO of Exelon. “Furthermore, if the RITE Line(^SM) project is approved, it will result in positive economic impacts to Illinois, including job creation and increased economic activity.”

The project will consist of a 765-kilovolt line from the Ohio border through Indiana to the northern portion of Illinois.  ComEd, the delivery company in northern Illinois and a subsidiary of Exelon, is expected to lead the building of the Illinois portion of the project. ETA and AEP will lead the project in Indiana. The project will be built in stages over three to four years, likely between 2015 and 2018, depending on the timing of approvals from federal, regional and state regulators.

The project is the first commercial effort resulting from the recently completed SMARTransmission Study, which was part of an effort to design a conceptual 20-year transmission plan that ensures reliable movement of electricity and provides an efficient transmission system for the Midwest. The study was led by ETA and co-sponsored by a group of several Midwest utilities, including Exelon.

The RITE Line project is expected to cost $1.6 billion and is subject to FERC, PJM (the regional transmission organization) and state approvals. The ultimate cost of the line will be dependent on RTO and state siting requirements, routing of the line, and equipment and commodity costs. Of that amount, $1.2 billion is related to the Illinois portion of the line, and the rest is related to the Indiana portion.

These investments will be made by Exelon, ETA and AEP. Cost allocation to utility customers will be determined later, based on a proposal by PJM and approval by FERC.

By Lee Provost
lprovost@daily-journal.com
815-937-3364

For years, Kankakee city officials have pushed for an upgrade of the Interstate 57 interchange at East Court Street. The Illinois Department of Transportation has finally responded. The interchange constructed during the administration of President Dwight D. Eisenhower will soon move toward a total reconstruction.

In a letter to Kankakee Mayor Nina Epstein, IDOT said it has committed $1.5 million to fund a Phase 1 preliminary engineering study of the exit 312 interchange. IDOT expects to select an engineering consultant in April to begin the study. The studies typically take between 24-30 months, said Dan Mestelle, IDOT program development engineer.

This interchange provides some unique obstacles, Mestelle noted. The River Valley Supportive Living complex at 1975 E. Court St. is located immediately east of it. Mount Calvary Cemetery at 2000 E. Court St. is to the immediate west. Regardless of the challenges, Epstein couldn’t be more pleased that this major project is finally on the state’s priority list.

“We’ve long felt this interchange had been neglected,” Epstein said. “They (IDOT) finally got our message.” Mestelle said it was premature to speculate what the price tag would be on this reconstruction, but he believed it would be less than the $49 million targeted for the redesign and reconstruction of the exit 315 interchange in Bradley. That project is set to begin next summer.

As companies continue to experience increased profits and demand slowly creeps back up, economists paint a much more optimistic picture for future hiring.

According to a recent survey from the National Association of Business Economics, expectations for hiring over the next six months have risen to the highest levels since 2006.

Any hiring news bodes well for the commercial real estate industry as vacancy rates continue to remain high in the Chicago area. Very little positive headway has been made in absorption this year, as firms continue to downsize, albeit at a much slower rate than when the recession began.

The national unemployment rate still remains high at 9.6 percent, but NABE economists believe that number will decrease to 9.2 percent by the end of 2011. That job growth may not be the robust increase that many are hoping for, but most economists agree that this recovery will be long and gradual, with unemployment possibly reaching 7 or 8 percent by the end of 2012.

Nevertheless, with U.S. companies experiencing increased sales overseas, many have reached a critical juncture and must expand hiring if they wish to keep up with the pace of demand. More than half of the survey’s respondents claimed that a portion of their firm’s sales came from overseas sources.

This can be directly attributed to the current monetary policy of keeping the dollar weak. Many have criticized this policy, rightly pointing out that it may lead to inflationary conditions. On the other hand, it can clearly be argued that this policy increases the chances for domestic employment growth, which the nation desperately needs.

Local James Bond vehicle and memorabilia collector Doug Redenius was featured this month in an NBC-5 Chicago video piece. Redenius and the Ian Fleming Foundation, the City of Momence, Economic Alliance of Kankakee County and others are spearheading an effort to create a local Museum of Bond Vehicles + Espionage to house the nearly 30 Bond vehicles, one of the world’s largest collections.

Kankakee businessman Joe Franco is rarely caught off guard.

At the conclusion of Thursday night’s Economic Alliance of Kankakee County’s annual dinner meeting, Franco, chairman of the alliance, found himself in just that position.

When HomeStar Bank president Pat Martin approached the speaker’s podium with a block of a wooden beam in his hand, Franco had no idea what was happening.

Franco, also the owner of Heritage Development & Construction Co., soon learned he was being honored for his efforts in revitalizing the long-struggling Ken Hayes Industrial Park in Bradley — a site that is at 100 percent capacity

Established in 1893, the IMA is the oldest and largest manufacturing association in the nation. Its mission is to preserve and strengthen Illinois’ manufacturing base. Baise has served as IMA president since 1991, before which he served in various capacities for Gov. Jim Thompson, including as Secretary of the Illinois Department of Transportation.

The Alliance Annual Dinner will be held at the Hilton Garden Inn; tickets are $15. For more information, contact Gina O’Neill, 815.935.1177.

Hear internationally acclaimed retail consultant Cinda Baxter discuss surviving, even thriving, in independent retailing. Cinda stops in the River Valley next week on her Great Lakes Tour to present her branded “3/50 Project” approach, which has been featured in the Wall Street Journal, CNN, Fox Business News and Entrepreneur magazine. The goal is to empower small businesses to reclaim local consumer dollars in a positive, effective manner. Fox News calls the “3/50 Project,” “the formula that could save some local businesses that might not otherwise survive.” This event is FREE of charge, but RSVP is required. For more information or to RSVP, contact the Bradley-Bourbonnais Regional Chamber of Commerce, 815.932.2222.